BGC Insurance Group (BGCI), a global broker and division of BGC Partners Inc., announced it has rebranded its global aerospace re/insurance brokerage as Piiq Risk Partners.

Since the division was launched during the second half of 2019, it has been building a select team of experts in the key aviation insurance hubs across the globe.

To date, Piiq has hired 28 individuals in the U.K. and U.S. and aims to attract additional talent into the organization in 2020.

The biographies of some of Piiq Risk Partners key hires made during the last six months include:

Commenting on the rebranding of the BGCs aviation brokerage, Piiqs CEO Philip Smaje said: Piiq is a bold and distinct name that matches our desire and ambition for this business. Our platform will provide an important independent and differentiated alternative for clients. We are committed to respecting the past as well as providing modern solutions for our clients. As we begin our journey as Piiq, we will be looking to invigorate the aerospace industry.

Piiqs President Marcel Chad said: Piiq has a unique opportunity to align the resources of our parent company, which is focused on the use of innovative technology, with an entrepreneurial spirit that puts clients outcomes first. We believe that we are the standout firm in the current evolution of the aerospace re/insurance sector.

In June, at the time the formation of aviation division (now called Piiq) was announced, Andrew Wallin, chief commercial officer, BGC Insurance Group, said: The current market is stacked against aviation clients, with three brokers dominating this line of business because of their scale. For a significant independent player like us with a client-focused approach, vision and technical prowess, the gap in the market offers huge disruptive potential. Our proposition will be compelling: a truly bespoke aviation offering from a concentration of the industrys top talent and tailored to clients, as opposed to the one-size fits all offered by many of our competitors.

The company said it aims to provide the market with an independent alternative, which will use advanced technology to drive down costs and drive up service.

BGC Insurance Group provides global wholesale specialty insurance and reinsurance broking solutions, operating a group of specialist brands: Besso, Cooper Gay France, Ed, Junge and PiiQ. The groups underwriting operations Epsilon, Globe Underwriting and Cooper Gay France provide specialist insurance products and services in the U.K., France and Australia. BGC Insurance Group is the insurance division of BGC Partners, a New York and London-based global financial brokerage and technology company.

Source: BGC Insurance Group

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BGC Insurance's Aerospace Broker Rebrands as 'Piiq Risk' with Spate of Key Hires - Insurance Journal